[2019-05-03] Bitcoin Set To Get Back Above $5,500 As The Market Bulls Resurge

[ruthbabe]

The bulls are steadily making a comeback in the market. In the last couple of hours, the resurgence of the bulls has seen many of the cryptocurrencies turn green. For Bitcoin, the crypto leader has jumped above $5,400, a position it has been struggling with in the last couple of days. Now, all eyes are on to its next target of $5,500, with the $5,700 its most obvious and more ambitious target.

Source: ZyCrypto

Currently, Bitcoin (BTC) has reached 2.01% for $ 5,517.37 and a trade volume of $ 14,628,591,182 in the last 24 hours. Do you think it will reach $ 5,700 mark or maybe it's going to surpass that level?

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[Kemarit]

Why not? The price is sitting at around $55++ now, just a few hundred dollars to $5700 so definitely it's doable. So it's just a matter of time, the big question though, what will going to happen after we touch $5700? will it sustain it's growth? Or speculators will book some profits in the weekends? Let's see how it goes, we could be around $5700-$5900 right now if not for that Bitfinex and Tether drama that somewhat affected the price last week.

[CryptoBry]

Currently, Bitcoin (BTC) has reached 2.01% for $ 5,517.37 and a trade volume of $ 14,628,591,182 in the last 24 hours. Do you think it will reach $ 5,700 mark or maybe it's going to surpass that level?

That is not impossible though it could also go the other way around. One thing for sure with Bitcoin is its unpredictability but right now there is that overall positive feeling that the price is really going upward and so there is a big possibility that this overall market impression can pull Bitcoin even towards the psychological barrier of $6K. This can really be the start of something good as more and more "investors" are noticing the climb and they don't want to be left behind in the surge. Bitcoin right now a great opportunity to make good money.

[TheKeyLongThumbI]

I'm really astonished right now because I am used to the view of btc spiraling down after a hit from a FUD just like what is happening in the past. $6k  or $10k isn't really far away to be reached again if things will go smoothly this time but if it will then they will just surely slow us down because the bull is really confirmed doing all the movements in this month.

[BitHodler]

Let's see how it goes, we could be around $5700-$5900 right now if not for that Bitfinex and Tether drama that somewhat affected the price last week.

The Tether drama didn't do much other than potentially making people cash out profits a bit sooner. The premiums on exchanges other than Bitfinex aren't that significant which indicates confidence in the stablecoin.

It's going to be very interesting to see what will be happening now we're so close to $6000 on Coinbase and Bitstamp. I personally believe a massive wave of sell orders is going to be triggered soon.

How often does it happen that such an import area breaks with its first attempt? Not a lot, and when it does the demand is strong enough to eat through all the sales. Seriously considering to add more to my short position....

[1Referee]

The premiums on exchanges other than Bitfinex aren't that significant which indicates confidence in the stablecoin.

That just shows how stupid people are. Bitfinex has time on time again proven that it is a super shady entity, and people still use their exchange and stable coin. People are begging to see Tether implode in their face and their thousands or millions in Tether become worthless overnight. Their "confidence" in Tether will end up making them hate this space.

Bitfinex guys must be laughing hard at how they can play this market without any serious consequences.

[anu1908]

Bitfinex guys must be laughing hard at how they can play this market without any serious consequences.

people stupidity is endless and bitfinex keep using it. i really hope they go insolvent and stop operating really soon and government (ironic or not) to start regulating and jailing people who run exchange and stable coins that operate so shady like them.

hopefully, dexes can get better really soon so lots of people will use them (and no, binance dex doesn't count imo).

[1Referee]

people stupidity is endless and bitfinex keep using it. i really hope they go insolvent and stop operating really soon and government (ironic or not) to start regulating and jailing people who run exchange and stable coins that operate so shady like them.

Bitfinex is already insolvent for the most part. They are going to issue a token to raise $1 billion to fill up their gap. As reward, people will get their arse tickled again at a later point. It's so frustrating to see how stupid people can be. If Tether and Bitfinex manage to recover from this, what will be able to get them down? They then survived the worst of the wost, lol.

hopefully, dexes can get better really soon so lots of people will use them (and no, binance dex doesn't count imo).

I was quite excited about dexes in the past, but no longer am. It's just not viable to expect them catch up on cexes to such degree, that people will shift. People won't even shift if dexes are almost as good as cexes. Dexes must be exponentially better to make people shift.

And yeah, Binance dex is a joke. CZ is a champion in marketing his products in the best possible way.